Overview
- ExxonMobil plans reductions equal to 3%–4% of its global workforce, including about 1,200 positions in the EU and Norway by the end of 2027, with some smaller offices closing and a new European Technology Centre planned at its Antwerp refinery.
- The company says there are no planned job cuts in the United States as it consolidates smaller offices and concentrates hubs on growth areas such as Guyana oil, Gulf Coast LNG and global trading.
- Most of the remaining reductions are tied to Calgary-based Imperial Oil, which will eliminate about 900 corporate roles by the end of 2027, representing roughly 20% of its workforce.
- Imperial expects a before-tax restructuring charge of about C$330 million in the third quarter of 2025 and targets roughly C$150 million in annual savings by 2028, with most remaining Calgary roles relocating to Edmonton’s Strathcona Refinery in late 2028.
- Alberta Premier Danielle Smith and Canada’s energy minister Tim Hodgson voiced disappointment, while analysts say the moves reflect a broader wave of cost-cutting and consolidation across oil majors as prices soften and OPEC+ supply pressures persist.